Oil was higher Monday underpinned by growing hopes for an extension of an output cut deal by major producers. U.S. crude was up 48 cents, or 0.95%, at $51.15 at 08:00 ET. Brent gained 48 cents, or 0.90%, to $54.09. OPEC and non-OPEC producers have agreed to cuts of 1.8 million barrels a day in the first half. Saudi Arabia's energy minister Khalid al-Falih said over the weekend he believed everyone was on board for a nine month extension of the output cuts to March of next year. OPEC and non-OPEC producers are due to meet Thursday on the possible extension. Baker Hughes Friday reported an increase of 8 to 720 in the U.S. oil rig count in the latest week. That was the highest number since April 2015, highlighting the increase in U.S. drilling activity.

Singapore: Avails are fair. Earliest supply from 28th of May onwards, and according to barge schedule.

Fujairah: Avails are fair. Earliest supply from 27th of May onwards, and according to barge schedule.

Istanbul: Avails are fair. Earliest delivery dates from 24th of May onwards, and according to barge schedule.